20201091 Ver 2_Task 3 Credit Release_20231019

DocuSign Envelope In 3E317)089F-8FDA-4ABA-65A7-7E13F9BEB85C
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
October 19, 2023
Environmental Banc & Exchange, LLC DWR Project #: 2020-109lv2
Attn: Jamey Mceachran Wayne County
(via electronic mail: jmceachrangres.us )
Re: RES 2021 Neuse Umbrella Mitigation Banking Instrument (UMBI)
Shady Grove Bank Parcel Credit Release — Task 3
Dear Ms. Mceachran,
On October 13, 2023, the Division of Water Resources (DWR) received an As -Built Report from
Environmental Banc & Exchange, LLC (EBX) for the Shady Grove Site. According to the As -Built
survey and corresponding project credits table submitted with the As -Built Report, there are slight
adjustments in the total amounts of Riparian Buffer credits and Nutrient Offset credits as compared
to the approved Bank Parcel Development Package. The subject site has generated 563,359 ft2
(28,942.848 lbs-Nitrogen) of nutrient offset credits, 29,707 ft2 of buffer restoration credits and
1,980.400 ft2 of buffer Preservation credits.
DWR received a performance bond (#612402580) issued to EBX from United States Fire Insurance
Company, in the amount of $100,000, to cover monitoring and maintenance at the subject site. The
term of this bond applies beginning August 16, 2023 and ends August 16, 2024. Future credit
releases will be dependent on both the renewal of this performance bond and the annual monitoring
reports.
In accordance with the UMBI, signed on November 30, 2021, the following Project Milestones have
been met and the corresponding credits shall be released:
Task/Milestones Credit
3) DWR Monitoring Financial Assurance Posted & Approval of As -Built Report 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and the following credits are released to sell:
• 10% of the Neuse buffer Restoration credits (0.10 x 29,707 ft2 = 2,970.700 ft2)
• 10% of the Neuse buffer Preservation credits (0.10 x 1,980.400 ft2 = 198.04 ft2)
• 10% of the Nitrogen nutrient offset credits (0.10 x 28,942.848 lb-N = 2,894.285 lb-N)
North Carolina Department of Environmental Quality I Division of Water Resources
512 North Salisbury Street 1 1611 Mail Service Center I Raleigh, North Carolina 27699-1611
NORTH CARCLINA
919.707.9000

DocuSign Envelope ID: 3E3D089F-8FDA-4ABA-B5A7-7E13F9BEB85C
Shady Grove Site
EBX
October 19, 2023
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020201 of the Neuse River Basin excluding the Falls Lake Watershed pursuant to 15A NCAC
02B .0703, which became effective on April 1, 2020. Additionally, the riparian buffer credits
must be used for impacts in the Neuse River Basin in accordance with guidelines in the
Consolidated Buffer Mitigation Rule, 15A NCAC 02B .0295, which became effective on
November 1, 2015
Please feel free to contact Katie Merritt ( katie.merritt(cr�,deq.nc.gov ) if you have any questions
regarding this correspondence.
cc:File Copy (Blake Hartshorn)
EBX — Travis Cooke (via electronic mail)
Sincerely,
EDocuSigned by,
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755ABFOCD808428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
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